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May 2011

XBRL filing of balance sheet and profit and loss account

By Sejal Vasa | Company Secretary
Reading Time 1 mins
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The Ministry of Corporate Affairs by Circular No. 9/2011 dated 31st March 2011has mandated certain companies to file their balance sheets and profit and loss account for the year 2010-11 and onwards using XBRL taxonomy. In the phase I following companies are covered:

(i) All companies listed in India and their subsidiaries, including overseas subsidiaries.

(ii) All companies having a paid-up capital of Rs. 5 crore and above or a turnover of Rs.100 crore and above.

The financial statements required to be filed in XBRL format will be based on the taxonomy on XBRL developed for the existing Schedule VI and non-converged accounting standards notified under The Companies (Accounting Standards) Rules, 2006. For complete text of the circular visit:

http://www.mca.gov.in/Ministry/pdf/xbrl_31mar2011. pdf

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